February 18, 2010
$140,000 State Funding Shortfall Looming for SCR-I District
Education funding at the state level is just one of the many categories taking hits due to declining tax revenues collected in Missouri but it is one that is definitely being felt locally.
"The state revenue forecast is not optimistic at this time," Superintendent Dave Shalley told the SCR-I Board of Education at its February 11th meeting. "The Governor has once again had to make cuts to the state budget to meet the lower projected revenues."
Additional withholdings of nearly $74 million were made by the state according to Shalley. Those cuts included reductions in the Parents as Teachers Program of $2,043,710, $637,731 from MOREnet and Early Childhood fund reductions of $56,161.
"This time of year we should have an estimated 58% of the state revenue collected," Shalley said. "We have collected 45% year to date."
That represents $140,000 less than projected for the district. The shortfall reflects the withholdings made due to reduced state revenues.
"We have held the expense line in check so far, only spending 55% of the budgeted expenses," Shalley stated. "We will need to continue to monitor this as the year progresses. "
The board heard news from the state budget director indicating the foundation formula will not be fully funded this year. That announcement could mean more withholdings are forthcoming this fiscal year.
The picture may even be more bleak for future school years Shalley told the board. The 2010-11 state budget is supplemented by $302 million in federal stimulus money that will not be available the following years.
"This makes the 2011-12 and the 2012-13 fiscal years look disappointing," he warned the board.